The month of November continued with our typical seasonal transition into a quieter local market where the real estate activity takes a back seat to holiday activities and preparations. This year is no different in this regard. We saw this trend begin in October and it has continued through the month of November, pretty much, as expected.
In October we saw our numbers come down off the highest monthly sales volume for the calendar year notched in September. October's activity settled back to a more typical monthly sales volume with 138 new residential properties going under agreement. In November we see that numbers dip yet again, dropping down to 103 residential properties going under agreement for the month.
Pending residential sales data for the month of November 2011 also indicated a 0.325 % decrease in the median sale price recorded at $199,250. and a 4.132 % decrease in the mean sale price that was tallied at $227,956.
These sales statistics cover the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal monthly activity for residential properties that went under agreement from 11/01/2011 through to 11/30/2011 in our local market area as serviced by the H3MLS-Property Information Network.
The upside to this time of year is that quieter months in the local real estate market can translate into enhanced buyer opportunities, especially with the historically low mortgage interets rates that are being shopped around. So, if you're ready to jump off the fence and into the local real estate market and take advantage of the opportunities that exist, contact us today to determine your options as either a buyer or a seller. We're here to work through the complexities of the local real estate market, make sure you neither under sell or over pay for your property, and to help you out along the way!
We are ready to serve all of your local real estate appraisal and brokerage needs. Our coverage area includes the southcoast region of Massachusetts and the east bay region of Rhode Island. Please feel free to contact us today!
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